Security Management, the mutual fund subsidiary of Topeka, Kan-based
Security Benefit, is launching two mutual funds and five variable annuity accounts.
"We're trying to expand our product offerings, and we felt there were a lot of opportunities in technology and growth," said
Jim Schmank, senior vice president for asset management.
The
Large Cap Growth fund will be managed in-house by
Cindy Shields. The fund will use the
Standard & Poor's Barra Index as a "benchmark." By "benchmark," Security Benefit means that investors can expect a level of risk and volatility comparable to that index.
The
Technology fund is the other launch. It will managed externally by
Wellington Management, and will use the
Goldman Sachs Technology Industry Composite Index as a benchmark.
The variable annuity accounts are
Large Cap Growth, Capital Growth, Main Street Growth and Income, Small Cap Valuee and
Technology. They will be managed by a combination of in-house mangers and sub-advisors.
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